trade war that has crimped economic growth and roiled markets.
A gauge of global equity performance surged to a 21-month peak, with a pan-European index at its highest since July 2015 after regional shares rose for a fifth straight session. However, the idea of a tariff rollback was not part of the original October "handshake" deal between Chinese Vice Premier Liu He and US President Donald Trump, sources told Reuters.
"The real driver is that investors in the United State and around the world have got little alternatives available to them because of the actions of the central banks," Kelly said, "so they're funneling money into stocks." The prospect of a recession diminishes if some tariffs are removed, said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. "So that's positive for stocks."